(Closed) Homeowners: What is your interest rate on your mortgage?

posted 5 years ago in Home
Post # 3
Hostess
18646 posts
Honey Beekeeper
  • Wedding: June 2009

Our interest rate is 3.25% on a 15 year loan we got a year ago.  No PMI.

Post # 4
Member
9234 posts
Buzzing Beekeeper
  • Wedding: August 2013 - Rocky Mountains USA

Interest rates are at an all time low – it’s a great time to buy.  Your rate is awesome! We locked ours in last April at 4.0%, which still is remarkably low even though rates are even lower now.  We only had 10% down so we also have 0.5% PMI.

Post # 6
Member
9234 posts
Buzzing Beekeeper
  • Wedding: August 2013 - Rocky Mountains USA

@inky_1:  Hmm, that’s surprising – I thought it was a fairly set in stone rule that <20% = PMI.  Great if you can avoid it though!!

Good luck! Buying a house is so exciting.  Just try not to get tired of looking at houses and settle… that can be tempting.

Post # 8
Member
731 posts
Busy bee
  • Wedding: September 2012

We came in at 3.75 with PMI 🙁   We only put %3.5 down tho, and its a FHA loan. We bought our house in May.

Post # 9
Member
9234 posts
Buzzing Beekeeper
  • Wedding: August 2013 - Rocky Mountains USA

@inky_1:  Could be.  Ours is conventional also.  Every bank I talked to, including our little independent hometown bank, required PMI under 20%, but if you can avoid it that’s awesome.

Post # 10
Member
9057 posts
Buzzing Beekeeper
  • Wedding: June 2010

We have a 1 year fixed closed (we lived there for 5 years, had to renew but are planning to sell in the spring) at 2.84%. 

Post # 13
Member
9057 posts
Buzzing Beekeeper
  • Wedding: June 2010

@inky_1:  it’s only because its a short term. If the bank had to hedge their bets that interest wouldn’t go up significantly over five years or whatever it would be much higher. 

Post # 14
Member
1137 posts
Bumble bee
  • Wedding: September 2011

We are in the process of refinancing and were given 3.5% for a 30 year convential with no PMI. We also found a bank willing to do no PMI with 10% down, so we that’s why we are refinancing (currently 4.25% FHA loan).

Post # 15
Member
7312 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

We locked-in at 3.5 (20% down, fixed 30 year conventional) back in May. If we were buying now, we’d be at 3.25. Kinda jealous of today’s even lower rates, but at least it’s not the 4.75 we were looking at when we first started house hunting!

Post # 16
Member
111 posts
Blushing bee
  • Wedding: September 2012

We’ve got a 3.25% 30 year fixed FHA (here in cali it’s very hard to come up with 20% down)

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